This is a general question about hire-purchase.in hire-purchase,

  1. this is a general question about hire-purchase.

    in hire-purchase, after subtracting the down payment, we get the principal loan. this loan is paid in instalments, most of the time yearly but sometimes monthly. in this case, if one has to pay monthly instalments with interest compounded monthly, when the term"monthly repayment"is used, is the interest already included inside?
     
  2. jcsd
  3. HallsofIvy

    HallsofIvy 40,514
    Staff Emeritus
    Science Advisor

    Re: hire-purchase

    This has nothing to do with "Calculus and Analysis" and, in fact, is not a mathematics question at all. I suspect it is a matter of national or local laws and the answer probably varies from place to place.
     
  4. Re: hire-purchase

    um, i'm sorry.... but in singapore, we call it math in practical situations.^^
     
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